American Tower Corporation $AMT is LDR Capital Management LLC’s 6th Largest Position

LDR Capital Management LLC grew its position in American Tower Corporation (NYSE:AMT) by 29.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,351 shares of the real estate investment trust’s stock after acquiring an additional 4,391 shares during the quarter. American Tower comprises about 5.5% of LDR Capital Management LLC’s portfolio, making the stock its 6th largest position. LDR Capital Management LLC’s holdings in American Tower were worth $3,722,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMT. Norges Bank bought a new position in American Tower during the 2nd quarter valued at about $1,371,875,000. JPMorgan Chase & Co. boosted its position in shares of American Tower by 24.3% during the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares during the period. Viking Global Investors LP boosted its position in shares of American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after buying an additional 1,958,329 shares during the period. Invesco Ltd. grew its stake in shares of American Tower by 11.9% during the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after buying an additional 708,808 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of American Tower by 13.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,605,059 shares of the real estate investment trust’s stock worth $796,790,000 after buying an additional 434,537 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene F. Reilly bought 5,554 shares of the stock in a transaction dated Friday, October 31st. The shares were bought at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent analyst reports. Argus set a $210.00 price objective on American Tower in a report on Thursday, October 30th. Mizuho decreased their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Morgan Stanley cut their price target on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, December 4th. Scotiabank reduced their target price on shares of American Tower from $248.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 14th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $231.00 price objective (down previously from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average target price of $219.21.

American Tower Price Performance

Shares of American Tower stock opened at $183.30 on Tuesday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The stock has a market capitalization of $85.81 billion, a P/E ratio of 29.36, a PEG ratio of 0.74 and a beta of 0.92. The business has a 50 day simple moving average of $177.94 and a two-hundred day simple moving average of $192.76.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the firm posted $2.52 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a dividend of $1.70 per share. The ex-dividend date is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. American Tower’s payout ratio is presently 108.63%.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.